Crypto Market News

Uniswap Risks a Fresh Decline as It Faces Rejection at $6.40

Uniswap Risks a Fresh Decline as It Faces Rejection at $6.40 #Uniswap #Risks #Fresh #Decline #Faces #Rejection. Here is what we have for you today on TmZ Blog.

Nov 19, 2022 at 13:30 // Price

The price range for Uniswap was limited to values between $5.00 and $6.40

Uniswap (UNI) is in a downtrend as it trades above key support at $5.00 and below moving average lines.


The altcoin has quickly dropped into the lower price range after encountering resistance at the recent high. After breaking the November 5 uptrend at the $8.00 resistance level, the recent downturn began.


The former range bound zone is currently where UNI is located. The price range for Uniswap was limited to values between $5.00 and $6.40. The cryptocurrency will return to the trend if the range limits are exceeded. After the price drop on November 9, UNI is currently trading between $5.00 and $6.40. If sellers break the existing support, there are warning signs of a possible slide to the low of $3.00. The coin is currently priced at $5.75.


Uniswap indicator reading


For period 14, the Relative Strength Index is at level 44. The altcoin has now entered the negative trend zone after the recent slump. It is likely to decline further as the price bars are below the moving average lines. The altcoin is in a downward trend as the daily stochastic is below the level of 40.


UNIUSD(Daily_Chart)_-_November_19.22.jpg


Technical indicators:  


Major Resistance Levels – $18.00 and $20.00



Major Support Levels – $8.00 and $6.00


What is the next direction for Uniswap?


New selling pressure is applied to UNI as it is rejected at the high of $6.40. UNI reversed upwards during the decline that started on November 9 and a candlestick tested the 61.8% Fibonacci retracement level. After the correction, Uniswap will fall to the 1.618 Fibonacci extension level or $2.86.


UNIUSD(Daily_Chart__2)_-_November_19.22.jpg


Disclaimer. This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coin Idol. Readers should do their own research before investing in funds.

You May want to check our other related articles below and download our app.

https://tmz.ng/crypto-market-news/ |Crypto Market News

Download Our APP

Download Our App For less Ads and more of Premium contents for free

Disclaimer For: Uniswap Risks a Fresh Decline as It Faces Rejection at $6.40

TMZ.NG believes the information on Uniswap Risks a Fresh Decline as It Faces Rejection at $6.40 accessible via this website is accurate and trustworthy but makes no promise regarding its timeliness, completeness, or correctness. TMZ.NG isn't a broker. We don't offer individualized investment advice. This website's information is subject to change. This website's content may become old, incomplete, or wrong. We may update obsolete, incomplete, or erroneous information, but aren't required to.

It would be best if you never made an ICO, IEO, or other investment decision based on the material on this website, nor should you consider it financial advice. If you need investing advice on an ICO, IEO, or other investment, visit a licensed advisor. We don't take payment to analyze or report on ICOs, IEOs, cryptocurrencies, currencies, tokenized sales, stocks, or commodities.

Show More

Xam Xin

I'm Olamilekan Atolagbe, I'm fueled by my passion for understanding the nuances of cross-cultural publishing. I consider myself a "forever student," eager to both build on my academic foundations in programming and computer science and stay in tune with the latest content publishing strategies through continued coursework and professional development.

Related Articles

Back to top button

AdBlocker Detected

Please Disable your AdBlocker to Continue using our site. Support us by enabling ads